ACFE certification preparation

CFE-FRAUD-PREVENTION-AND-DETERRENCE Practice Questions

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Exam
CFE-FRAUD-PREVENTION-AND-DETERRENCE
Provider
ACFE
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331 questions
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[Fraud Prevention] Reporting known incidents of fraud to law enforcement can be an effective fraud prevention mechanism.
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[Fraud Deterrence] In the area of criminological theory, compliance is the theory that tries to prevent crime by providing economic incentives for voluntary conformity to the laws and using administrative efforts to control violations before they occur.
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[Fraud Risk Management] A report by a fraud examiner is privileged from disclosure by anyone other than the client.
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[Ethical Responsibilities of the Fraud Examiner] Article II of the ACFE Code of Professional Ethics prohibits illegal or unethical conduct, but It allows exceptions for unknowing violations of the law.
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[Fraud Risk Management] Willow, Inc. has a complex organizational structure with many specialized departments. The structure of Willow, Inc. increases the likelihood that fraud will go undetected within the organization.
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[Ethical Responsibilities of the Fraud Examiner] Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to investigate a complex money laundering case spanning numerous international jurisdictions and involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on investigating money laundering schemes, but he had no other training or experience in such cases. However, he accepted the engagement and chose to conduct the work himself. Benjamin's conduct would likely be a violation of the ACFE Code of Professional Ethics.
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[Fraud Deterrence] According to the differential reinforcement theory, behavior is weakened when positive rewards are gained or punishment is avoided.
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[Fraud Risk Management] For Its compliance program to be effective, an organization must perform procedures to ensure management hires only ethical Individuals who exercise a substantial measure of discretion In acting on the organization's behalf
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[Ethical Responsibilities of the Fraud Examiner] While, a Certified Fraud Examiner (CFE). was hired to conduct a fraud examination She did not find fraud, but. In White's opinion, there were several internal control deficiencies that, if not remediated, could facilitate the occurrence of fraud Under the ACFE Code of Professional Ethics. White may include her opinion on the controls in her report to management.
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[Ethical Responsibilities of the Fraud Examiner] Jane, a Certified Fraud Examiner (CFE), was hired lo conduct a fraud examination at XYZ Company Her examination did not reveal any conclusive evidence that fraud had occurred or was occurring Consequently. XYZ's management asked Jane to state in her official examination report that the company is free of fraud as a means of assuring the board of directors that the company's anti-fraud controls were effective. The ACFE Code of Professional Ethics prohibits Jane from complying with management's request.
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